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The proposed 2024-2025 budget is $74,997,794, an increase of $982,363 or 1.33%. The following is a brief synopsis of what this entails:

General support - $340,025 (includes BOE, Superintendent, Business Office, B&, legal, etc.) The pricing contract with the utilities consortium expired, so pricing for gas and electric increased significantly. The Consortium Manager worked diligently to procure the best possible pricing for consortium members, but there is still an increase. Participating in the solar program with the City and with our own solar field has helped to keep this increase in check. Maintenance contracts for resurfacing the gym floors, monitoring the heating and ventilating systems, servicing and maintaining the elevators and the contract to aerate and fertilize the fields all increased in 2024-25. Property insurance increased by 8% due to the severe weather conditions that occurred in the Northeast last year, resulting in higher claims overall for school districts. BOCES administrative fees also increased by $47,000. General teaching - $2,675,543 (includes all expenses associated with educating the scholars) Additional ADK and CTE slots were budgeted at an increase of approximately $200,000. BOCES special education costs were down slightly, but potential private and residential placements more than made up for that decrease. Distance learning increased by $240,000 because Gloversville is now receiving DL classes as well as providing them. BOCES aid will be received on these services in 2025-2026.

A new COSER with the Family Counseling Center was developed with HFM BOCES that the district is now participating in. This cost is $458,000. Since Gloversville already contracted with Family Counseling Center for school-based counselors, it made sense to partner with BOCES so that aid can be recouped on costs expended in 2024-2025. An additional SRO position was added for $80,000. Grant funding is being explored to offset this cost.

The remaining increases are employment contract salary increases and increases in other BOCES services. No additional staffing has been added. Transportation costs – the 5510, 5530 and 5540 line items ($650,000) Transportation costs for 2024-2025 are a very rough estimate as Gloversville hasn’t provided its own transportation services since 2013. BOCES costs were budgeted at $3,882,837 in 2023-2024 and were included in these line items. Out of district runs and McKinney Vento runs are currently contracted with STA/Browns and Amazing Grace, but it’s anticipated that Gloversville will be able to provide the transportation for these runs in 2024-2025. The total cost of transportation, exclusive of contract transportation, is estimated to be $3,242,888. This includes fringe benefits as well. Gloversville’s transportation aid ratio is 90%. Eligible transportation expenses will be aided at 90% and will be paid to the District as transportation aid in 2025-2026 as these are expense-driven aids and reimbursement is based on prior year expenses.

Fringe benefits - $1,706,878 The majority of this increase is health insurance premiums, but can also be attributed to the additional fringe benefits for those transportation employees who are now Gloversville employees. The Fulmont Health Trust voted to increase the Anthem premiums by 3% and the switch from the Humana MAP to Anthem MAP, resulted in a slight savings for our Medicare Advantage Plan contracts. Contracts with CDPHP and MVP are expected to increase by approximately 10%. The overall increase in health insurance is $1.2M including the 20-plus new transportation contracts. Debt service – ($1,874,000) This information is provided by the Timbs Financial Group and is based on the principal and interest payments due on outstanding capital project debt. This number fluctuates from year to year due to when debt is issued and when it is paid off. In 2024-2025, $367,000 will be transferred from the Debt Service Reserve Fund to offset the local share of debt.

Revenue:

As you are aware, there is no NYS budget, so state aid is an estimate and is based on the latest aid runs. Foundation aid for Gloversville is up just under $2M. Transportation, BOCES, high cost public and private excess cost aids are up just under $900,000. Building aid is down $2.5M. The District’s financial advisors provide the building aid estimates and they are based on capital project final cost report submissions and outstanding debt. The property tax cap is 1.95% that equates to a $307,386 addition to the tax levy. The remaining revenues, including utility tax, admissions to athletic event, Medicaid reimbursement, interest income, etc. remain steady. Approximately $367,000 will be transferred from the Debt Service Reserve fund to offset the local share of debt and $391,012 is projected to be appropriated from fund balance. If there are any significant changes to state aid once the NYS budget is approved, the increase or decrease will be offset by the appropriation of fund balance.

Other:

In addition to the budget, the following propositions will appear on the ballot: Authorization to create a Capital Reserve Fund for furniture, fixtures & equipment Authorization to purchase 3 66 passenger buses from the School Bus & Vehicle Reserve Fund Authorization to purchase promethean boards and laptops from the Technology Reserve Fund Voters will also be electing up to three members to the Board of Education for three year terms.

Developing the annual school budget is a year-round process that involves the Gloversville Board of Education and district and school leaders. On the third Tuesday of each May, that process concludes when the public votes on a school budget proposal for the following year and elects candidates to the Board of Education.